Links in “Proposals, Requests, & Comments”

The Senate Banking Committee is scheduled to markup a housing finance bill that would ensure credit unions have continued access to secondary markets. The Committee is also scheduled to vote on the McWatters nomination to the NCUA Board. The Senate Judiciary Committee is scheduled to vote on the Patent Transparency and Improvements Act that would protect credit unions from “patent trolls.” [4/28]

The Office of the Comptroller of the Currency published a notice of proposal for increasing assessments on national banks and federal savings associations with total assets over $40 billion. The proposed 14.5% increase would take affect 9/30/2014. [4/28]

The CFPB issued its proposal to Regulation E that will extend the temporary exception rule by five years to July 2020 and provide clarifying amendments and technical corrections to the final rule. [4/28]

NCUA Chair Debbie Matz has said “no” to the joint request from CUNA and NAFCU to extend the comment period for the proposed risk-based capital rule for an additional 90 days stating that the proposed rule has been available to credit unions since January and that is sufficient time for credit unions to review the rule and to formulate their comments. The other two board members have yet to respond to the request for the extension. [4/25]

The NCUA board, by a 2 to 1 vote, approved the controversial and costly stress testing yesterday at its April board meeting. In a change from the proposed rule, the final rule states that NCUA will keep the test results confidential, at least for the first few years. [4/25]

Midland, Texas' proposed ordinance would limit loans to 20% of consumer's monthly income, no more than four installments, and prohibit renewals or refinancings. [4/25]

Expectations are that the NCUA Board will approve a final rule on stress testing and a proposed rule on associational common bond requirements. The costly stress testing rule that directly affects credit unions with assets of $10 billion and more has been very controversial and industry experts will be closely following the deliberation and voting process at today’s NCUA Board meeting. [4/24]

Calling NCUA’s proposed stress-testing rule for credit unions with assets of $10 billion or more inappropriate, costly, and unnecessary, NAFCU General Counsel Carrie Hunt writes that, at a minimum, the proposed rule should be delayed until there is more clarity with the proposed risk-based capital rule. [4/22]

CUNA and NAFCU have jointly requested the NCUA extend the comment period for the proposed risk-based capital rule for an additional 90 days. The trade associations assert that the current end date for the comment period, May 28^th, has not provided credit unions sufficient time to analyze the impact of the proposed rule on their operations and to prepare responses. [4/18]

A bill, called the Community Financial Protection Act, introduced in the Senate would place limits on the CFPB's supervisory authority for banks and credit unions with assets of $10 billion or less. [4/18]